India’S Monetary Growth Slumps As Big Reforms Bite

India’s economy is having a difficult year.
The South Asian nation’s gross domestic product grew 5.7% in the quarter ended June, the government said Thursday.
That’s a big drop from the quarter before and much slower than the 7.1% growth it recorded in the same period last year.
“There has been a hit to growth on the back of various disruptive changes,” said Anubhuti Sahay, head of South Asia research for Standard Chartered.
“Initially it was [the cash ban], now the GST impact has just hit and it’s likely to persist for couple of quarters at least.

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